DefinePK

Abstract

As part of its broader strategy for economic growth, poverty alleviation and reductionin regional disparities, Pakistan has been promoting Special Economic Zones (SEZs) forlong. SEZs currently operating in Pakistan face challenges related to infrastructure,investment and governance. The establishment of nine SEZs under China-PakistanEconomic Zone (CPEC) is a promising step towards modern industrialization. However,their development process remains lagging and falls short of expectations. SEZs underCPEC hold great promise for Pakistan's economic growth as they offer opportunities formodern industrial development, increased exports and employment. To this end,addressing existing impediments by recourse to effective policies and stronggovernance is vital. Drawn on Rostow’s model of economic development and usingqualitative research approach, the study follows a cross-sectional temporal dimensionas it focuses on SEZs from a contemporary perspective. This paper discerns severalpotentials of SEZs for economic growth as well as the challenges that undermine thepromise of SEZs.